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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I have an outstanding judgement related to legal fees.

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I have an outstanding judgement related to legal fees. I plan to retire, collect social security a New York State Teachers pension and possibly work part-time to supplement the retirement income. Are the pension payments and part-time income exempt from attachment or garnishment. I plan to retire in Massachusetts or New York.


WALLSTREETESQ :

this is a common issue,

WALLSTREETESQ :

creditors cannot go after your pensions, or social security

WALLSTREETESQ :

they can try to freeze any bank accounts however,

WALLSTREETESQ :

and your part time work income,

WALLSTREETESQ :

if you file a bankruptcy you can get rid of the debts,

WALLSTREETESQ :

and your pension would be protected in full,

Customer:

I filed a chapter 7 bankruptcy in 2009. It is my understanding that I cannot file again until 2017. Until then would it be a good idea to place my pension payments and part-time income in one account so that they don't co-mingle with monies that may be attachable?

WALLSTREETESQ :

yes, I would consider having the pension go into a separate account with social security,

WALLSTREETESQ :

that would be best,

Customer:

Thanks just to clarify. The part-time work would also be exempt? Is there a threshold amount where if i pass it, it could be garnished?

WALLSTREETESQ :

, Massachusetts makes almost all of a person’s other income (including wages and salaries) potentially open to garnishment. Only the first $125 per week is exempt from garnishment, which means that essentially everything a debtor earns past around $6,000 a year could be garnished under Massachusetts law.

Customer:

ok thanks

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